Payment service providers bring together all of the usual payment methods for an online store using a secure interface.
As a general rule, an online store cannot implement a credit card payment system itself. It has to use an intermediary – the Payment Service Provider (PSP). This intermediary is certified to complete transactions with financial companies such as Visa or American Express.
In addition to credit cards, the PSP offers all the usual payment methods for an online store (bank transfer, PayPal, etc.). Specifically, this paying service takes the form of a modular interface to be installed on the website. The PSP also offers additional services, including certification of customer solvency and risk assessment.
In Switzerland, there are three main payment service providers:
- PostFinance E-payment
- SaferPay (Six Card Solutions)
A PSP’s costs are usually made up of three elements:
- Set-up costs
- Monthly fixed costs
- Costs per transaction, which vary between CHF 0.20 and CHF 1.10, depending on the volume of transactions
For credit card payments, additional costs are payable in addition to the PSP's costs. These are fees paid to the financial institution responsible for settling the transactions (Six, Aduno, etc.). Typically, these fees are between 2.5% and 3.5% of the purchase price.
Payment service providers may also offer mobile payments.